AT&T 1Q22 revenues down 13.3% to USD38.1bn after divestments

22 Apr 2022

US telecoms giant AT&T Inc has reported consolidated operating revenues of USD38.1 billion for the three months ended 31 March 2022, down 13.3% from USD43.9 billion on an annualised basis. AT&T notes that the decreased top-line figure reflects ‘the impact of divested businesses, mainly US Video in the third quarter of 2021 and Vrio in the fourth quarter of 2021’.

First quarter EBITDA dropped from USD13.5 billion to USD11.2 billion, while operating income decreased from USD7.7 billion in 1Q21 to USD5.6 billion in the period under review. Finally, net income attributable to AT&T plummeted from USD7.6 billion to USD4.8 billion.

In operational terms, AT&T reported a total of 196.616 million mobile subscriptions in its domestic market as of 31 March 2022, broken down as 81.639 million post-paid subscriptions, 18.859 million pre-paid subscriptions, 5.383 million reseller accounts and 90.735 million connected devices. In terms of fixed broadband uptake meanwhile, AT&T claimed 13.850 million subscriptions in 1Q22, of which 6.281 million were connected via fibre-to-the-home (FTTH) technology. Elsewhere, AT&T reported 20.503 million mobile subscriptions in Mexico as of end-March 2022.

John Stankey, CEO of AT&T, commented: ‘Our momentum in growing customer relationships is reaching historical levels. We had our best first quarter for post-paid phone net adds in more than a decade and our fibre broadband net adds remain consistently strong.’

United States, AT&T